Earnings Per Share Basic income per share is calculated by dividing net income by the weighted-average number of shares outstanding during the period. Diluted income per share adjusts the basic income per share for the effects of any potentially dilutive securities in periods in which the Company has net income and such effects are dilutive under the treasury stock method. Following is a summary of the components of basic and diluted income per share for the periods presented: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Nine Months Ended June 30, | in thousands (except per share data) | 2024 | | 2023 | | 2024 | | 2023 | Numerator: | | | | | | | | Income from continuing operations | $ | 27,208 | | | $ | 43,817 | | | $ | 88,107 | | | $ | 102,932 | | Income (loss) from discontinued operations, net of tax | 2 | | | — | | | 2 | | | (77) | | Net income | $ | 27,210 | | | $ | 43,817 | | | $ | 88,109 | | | $ | 102,855 | | | | | | | | | | Denominator: | | | | | | | | Basic weighted-average shares | 30,513 | | | 30,395 | | | 30,625 | | | 30,335 | | Dilutive effect of restricted stock awards | 414 | | | 458 | | | 384 | | | 309 | | Dilutive effect of stock options | 8 | | | 7 | | | 8 | | | 5 | | Diluted weighted-average shares(a) | 30,935 | | | 30,860 | | | 31,017 | | | 30,649 | | | | | | | | | | Basic income per share: | | | | | | | | Continuing operations | $ | 0.89 | | | $ | 1.44 | | | $ | 2.88 | | | $ | 3.39 | | Discontinued operations | — | | | — | | | — | | | — | | Total | $ | 0.89 | | | $ | 1.44 | | | $ | 2.88 | | | $ | 3.39 | | | | | | | | | | Diluted income per share: | | | | | | | | Continuing operations | $ | 0.88 | | | $ | 1.42 | | | $ | 2.84 | | | $ | 3.36 | | Discontinued operations | — | | | — | | | — | | | — | | Total | $ | 0.88 | | | $ | 1.42 | | | $ | 2.84 | | | $ | 3.36 | |
(a) The following potentially dilutive shares were excluded from the calculation of diluted income per share as a result of their anti-dilutive effect. | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Nine Months Ended June 30, | in thousands | 2024 | | 2023 | | 2024 | | 2023 | Stock options | — | | | 13 | | | 1 | | | 14 | | Time-based restricted stock | 3 | | | — | | | 1 | | | 128 | | | | | | | | | |
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